Fred Leeb, the head of Leeb Partners, is a veteran financial manager who founded his turnaround consulting practice in 1994. His extensive career as a consultant spans numerous small, medium, and large-sized local businesses, governmental entities and nonprofits. Fred’s prior experience in the corporate sector includes positions with multi-billion dollar companies including Ford, Occidental Petroleum, Xerox, Oracle, Unisys and Coopers & Lybrand (now PriceWaterhouseCoopers). Throughout his career he has helped organizations of all sizes overcome significant challenges and resume growth.
Appointed by the Governor
In addition to his many corporate experiences, Fred has considerable turnaround experience with governmental entities and nonprofit organizations. In 2009, he was appointed by the Governor of Michigan to be the first Emergency Financial Manager for the City of Pontiac. During his 15 months in that role, he was able to quickly lead the city to two years of surplus after many years of deficits, upgrade the City’s bond rating, successfully negotiate with six unions and generate more than $115 million in multiyear benefits. Fred was also an active participant in a work group organized by Michigan Governor Rick Snyder, to help determine how to improve local government and cope with the state’s financial crises.
Awarded the Turnaround of the Year
Fred Leeb was the recipient of the 2008 Turnaround of the Year Award from the Turnaround Management Association (TMA) for his outstanding work with Starfish Family Services, a nonprofit organization that, at that time, served about 8,000 children and families annually. It had revenue of about $12 million per year, 270 employees and more than a dozen service sites. Starfish now is generating consistent operating surpluses and is considered a leader in the nonprofit community.
Fred’s turnaround consulting career also has included what are now PricewaterhouseCoopers and AlixPartners, two of the most successful consulting firms in the country. He has acted as a trusted advisor, financial consultant, interim CEO, liquidator, negotiator, and vice president of a debtor-in-possession management team. He has worked on many small businesses, family businesses and nonprofits. His expertise includes business successions, turnarounds, complex transactions, sales of multiple subsidiaries to generate cash, detailed analyses of related party transactions, negotiations with secured and unsecured creditors, large capital spending budgets, mergers and acquisitions, litigation support, fraud investigations, and creating new, practical strategies for the future. He has worked to consult with and turn around firms in 50 different industries.
At various times, Fred has been a member of the Turnaround Management Association (TMA), a board member of the Jean and Samuel Frankel Jewish Academy of Metropolitan Detroit, the Fresh Air Society, the Association for Corporate Growth (ACG) and the Children’s Aid Society.
He has written more than 20 articles for publications such as Crain’s Detroit Business, the Turnaround Management Association and the Huffington Post. He also has given over 40 presentations and interviews to national publications including The New York Times, The Wall Street Journal, Washington Post, Los Angeles Times, Detroit Free Press, The Detroit News, various television and radio stations and multiple professional and trade organizations.
Fred earned an MBA from the Wharton School of Business at the University of Pennsylvania.